700 sqft 1+1 @ $550/sf is $385,000. That is pretty steep. The den better be big enough to work as a second bedroom to recoup some extra rental money. There are lots of young professionals/students that share 1+1 units. I'm guessing $1000 for the bedroom and $800 for the den. That's $1800 a month compared to renting to an individual for max $1500. I think that is why 1+1 with good height and views are the most popular and the first ones that get sold in pre-construction.
$385K with 20% dp leaves $308K;
@ 4.50% 5-year term / 25-year amortization, $1800 would just barely cover the mortgage payment of $1705; with the property taxes, maintenance fees, insurance, etc of approx $700-750/m resulting in negative cashflow !